Resolute Mining (ASX:RSG) has cleared its final major regulatory hurdle in West Africa, officially securing a mining permit for the Doropo Gold Project.
Granted by the Ivorian Council of Ministers, the permit carries an initial 14-year term with options for extension, anchoring Resolute's strategy to diversify its portfolio beyond its existing operations in Mali and Senegal.
The approval paves the way for a final investment decision expected shortly, with the company targeting a construction start in the first half of 2026 and first gold production by early 2028.
Under current market conditions, the project boasts a post-tax net present value of $2.5 billion, calculated at a gold price assumption of $4,000 per ounce.
CEO Chris Eger noted that Doropo is a key component in Resolute’s plan to exceed 500,000 ounces of annual gold production by 2028.
Located in the Bounkani Region, the mine is expected to be a significant economic driver, creating over 1,500 construction jobs and contributing approximately $420 million in royalties and taxes to the Ivorian government over its lifespan.
At the time of reporting, Resolute Mining's share price was $1.28.